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Indian Overseas Bank reports net loss of Rs 1450.50 crore in Q1

10 Aug 2016 Evaluate

Indian Overseas Bank has reported results for first quarter ended June 30, 2016.

The bank has reported a net loss of Rs 1450.50 crore for the quarter ended June 30, 2016 as compared to a net profit of Rs 14.76 crore for the same quarter in the previous year. Total income of the bank decreased by 12.05% to Rs 5868.44 crore for the quarter under review, from Rs 6672.11 crore for the corresponding quarter of the previous year.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 20.48%, as compared to 9.40% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 13.97% in Q1FY17.

Peers
Company Name CMP
State Bank Of India 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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